The drain valve pictured is an optional EZ Drain oil valve. I believe it is made by Fumoto, but has a couple small improvements over the original design. A regular hex drain plug is standard for those that are uncomfortable with the locking ball valve design. The threads you see are for a nipple to screw into so a hose can be used.
The six point 2 1/2" wheel bearing nut socket will not get stuck/jammed, deform, or damage the cap.
Inside, the stock filter support tube and bypass valve can be retained (for the warranty weary), or a high performance bypass unit for use w/ internally supported filters (TRD, Mobil 1, and more) is available.